Sell Page Industries; target of Rs 12500: ICICI Direct

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ICICI Direct's research report on Page Industries

The Indian innerwear category is shifting from price sensitive market to a fashion quotient market. The segment remains keen on implementation of GST enabling a shift from highly unorganised market promising high growth in the organised market.

Outlook

Though we continue to believe in Page’s high quality franchisee, realisation growth would be difficult to come, going ahead, impacting overall growth rates. We continue to maintain SELL rating with a target price of Rs 12500.

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